HomeGoldIvory Coast to triple gold output

Ivory Coast to triple gold output

Randgold Resources
CEO Mark Bristow
inspecting core at
Tongon, with
Grand Bassam, Ivory Coast — MININGREVIEW.COM — 03 August 2010 – The government of Ivory Coast says the country is to triple its national gold output to about 20 tonnes per year by 2015, as three new mines start up in the country “’ among them the Randgold Resources Tongon development.

The West African state “’ the world’s top cocoa grower and a modest producer of oil “’ is eager to diversify its economy by developing its mining sector, which now makes up just 1% of gross domestic product.

“From here to 2015, production of gold in Ivory Coast will be at least 20 tonnes per year because of the new mines,” said general director of mines and geology Mbe Adou in an interview with Reuters on the sidelines of an industry conference.

“Today, the ambition of Ivory Coast is to ensure our minerals extraction sector has an impact on the national economy,” he added. “Current annual gold output from Ivory Coast is about 7 tonnes from mines operated by Societe des Mines D’Ity, LGL, and Cluff,” he said.

Adou explained that output would start to rise after Randgold began operations at its Tongon mine in the north of the country in November. Australia’s Occidental and Canada’s Etruscan mining firms would also start operations in the next three years.

Randgold said earlier this year it expected to produce 75 000 ounces of gold from Tongon in 2010, before ramping up to 280 000 ounces annually.